CIS, stakeholders brainstorm on certification strategy
Determined to grow the membership base as part of its on-going globalisation programme, the Chartered Institute of Stockbrokers (CIS) and its student members have dialogued on the strategy to acquire the Institute’s certification.
Under the new regime, the CIS has opened three windows of certification, by way of Diploma Programme, Specialised Certification and Omnibus Certification..As its March Professional Examination is approaching, CIS organized Stakeholders Forum to address growing concern on difficulties faced by many student members in passing relevant examinations to acquire the Institute’s certification.
Speaking at the Forum, a consultant to the Institute on Professional Examination, Ade Omolehinwa explained that many students do not make adequate preparation for examination.
According to him, factors such as shallow knowledge of required concepts, failure to study the Examination Manual, poor techniques of answering questions and illegible handwriting among others have largely contributed to poor performance of students during professional examinations.Corroborating Omolehinwa, another consultant and Associate Professor of Finance,Lagos State University, Dr Akin Adefalujo noted that students should identify the Net Asset Value of a professional examination before embarking on it in order to enhance his utmost dedication.
Adefalujo advised student members who do not have quantitative background to acquire more knowledge of calculation before writing the CIS’ Professional Examination aside from ensuring enough time for preparation as syllabus of such examinations are extensive.
The Chairman, Pass Associate Limited, Dr John Osuoha who spoke extensively on the need for self discipline on the part of the student members identified various techniques including studying past questions, leveraging on group discussion, time management and punctuality at the examination center as part of the strategy for successful performance in any examination.
Speaking on the benefits of CIS’ Professional Certification, the Chief Executive Officer, Stary Gold Academy, Tayo Stephen explained that apart from operating as a stockbroker, there are other ample investment opportunities in the financial markets saying that the primary benefit is the opportunity for self employment even without capital.
The Institute’s Head of Education and Training, Mr Chukwudi Nga announced the new certification model called Specialized Professional Certification (SPC) which provides an opportunity for specializing in some areas of finance and investment.Nga explained that the SPC, which is in line with global trends, covers
tCommodity Trading and Derivatives, Equities Dealing, Share Registration and Custodianship Services, Investment Management and Financial Advisory.
According to him, the new certifications which commence in March this year, the examination shall run concurrently with the Institute’s current Professional Examinations which hold in March and September annually.Speaking on behalf of his colleagues, a student member, Mr Banarbas Amadi expressed gratitude to the CIS for organizing the forum where many issues were explained and commended the Institute’ on its ability to uphold a high professional standard with integrity since inception.
The Institute’s Registrar and Chief Executive, Adedeji Ajadi has earlier explained the implication of lbeing an SPC holder thus :“They are licenced to practice only in that specific area. Although an individual can acquire as many different SPC licences as possible. Four specialized certificates will qualify the holder to become an Associate Member of the Institute.
“After induction, the SPC Graduate shall be addressed as Certified Commodity and Derivatives specialists, Certified Equity Specialists and Certified Fixed Income Specialist among others”, Ajadi said.In his welcome address, the Institute’s President, Oluwaseyi Abe advised the student members to work hard to attain status that would make them relevant in the financial markets.He emphasized the need for prospective stockbrokers to take advantage of the newly approved windows of opportunities in line with the global standard.
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